Spanish Auto Market grew 6.1% in year-on-year volume in November 2024, totaling 82,929 sales. YTD figures gained 5% and reached 5909,229 units. Despite the positive outlook, Kia and Peugeot both dropped 4 spots with double-digits losses.
Market Trend and Outlook
Economic activity in Spain is projected to grow by 2.1% in 2024 and 1.9% in 2025, driven by strong domestic demand and resilient labor market conditions. In 2023, the Spanish economy experienced a 2.5% growth, supported by a robust labor market, net exports, and public consumption, despite subdued investment growth in the latter half of the year. Investment growth is expected to improve in 2024, driven by the Recovery and Resilience Plan and better financing conditions, though weak economies of major trading partners may constrain export growth. Domestic demand will be the primary driver of growth in 2024, supported by job creation and a reduction in household savings rates. Additionally, inflation is projected to decline as underlying price pressures moderate.
In line with the favourable economic setting, the Spanish Car Market grew 6.1% in November, marking the 3rd month of consecutive year-on-year growth. Monthly sales totaled 82,929 new registrations while YTD figures stood at 909,229 (+5%).
Looking at cumulative data up to November 2024 brand-wise, Toyota secured a wide margin to defend the leadership with 86,043 sales (+17%), followed by Volkswagen -up 1 spot- at 60,103 (+2.7%), Seat -up 2 spots- with 58,042 (+6.9%) and Hyundai -up 2 spots- with 57,549 units sold (+8.2%).
In 5th Renault -up 2 spots- with 56,991 sales (+13.8%), followed by Kia -down 4 spots- with 54,154 sales (-11.6%), and Dacia -up 1 spot- at 49,194 (+11.6%).
In 8th place Peugeot -down 4 spots- at 47,556 sales (-13.4%) followed by Mercedes -up 1 spot- with 40,683 sales (+8.9%) and in 10th place BMW -up 2 spots- with 39,758 sales (+28.8%).
Looking at the best-selling models, reported in a dedicated article, we can anticipate that the Dacia Sandero was still on top of the rankings with a 17.7% increase in YTD sales, followed by the Toyota Corolla (+14.6%) and the Seat Ibiza (+30%).
Medium-Term Market Trend
Following 3 years of losses in 2013 the Spanish autos market started recovering, a growth that would last 6 years and would move sales from 744k to a peak of 1.34 million reached in 2018.
In 2019 sales staggered around the 1.3 million mark, but with the arrival of the pandemic in 2020 they fell 34.6% to 852k registrations. This would put the Spanish market in a difficult situation in the following two years.
After the pandemic car passengers sales remained practically flat in 2021 with 859k sales reported (+0.9%). 2022 performed even worse, losing 4.5% in y/y sales, before to score a robust recovery in 2023, when sales picked up 16.7%.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers’ Groups, and top 10 Models.
